Digital strategies
In fashion e-commerce, for over a year now, there has been discussion about the role that artificial intelligence will play in the entire industry. One of the most read articles in 2016 published by Business of Fashion highlighted a scenario of convergence between smart technologies and the world of fashion: as happened with the Internet, artificial intelligence will also quickly contaminate all aspects of this sector. From the matching of supply and demand to automated conversations by chatbot to predictive intelligence, to paraguay cell phone number list suggest new trends to brands and designers: Today, artificial intelligence is no longer a futuristic interpretation but a present guided by already mature technological solutions. The key points of the relationship between fashion retail and artificial intelligence are:
1. Aligning supply and demand Even today, fashion brands work with a limited amount of data to determine how many products to order and how much to mark down to sell them. If the prediction is wrong, it results in lost revenue due to excessive markdowns and wasted resources in sales. By analyzing a broader range of data, from customer history to the entire market, AI could help retailers decide how to show and sell products.
2. Competitor study and analysis of data from the entire market The ability to make predictions can be extended, thanks to the support of non-proprietary data. There are crowlers that can analyze competitors' e-commerce sites, with the aim of returning information from a broader spectrum: for example, identifying the best-performing colors or materials in a certain country or even in a single city, identifying trends and microtrends. This data, which was not available before, can play a vital role in developing brand strategies.